Nippon Steel said the stocks of H-beam in Tokiwakai Group totaled 178,800 tonne at the end of last December, down by 2.2% from a month ago. Also, the H beam stocks have fallen for consecutive three months.

Meanwhile, Nippon Steel will continue to adjust its H beam stocks for domestic market. At the same time, Nippon Steel informed its distributors to hike its H beam prices by JPY 3,000 per tonne for February

Major investments worth USD 250 million will be made in the construction of a metallurgical plant in Georgia.

According to what businessman Niko Lekishvili told journalists a meeting was held between investors and the economy minister on the issue. He said the investor has already chosen a construction site for the metallurgical plant in Poti near the port. Project details are specified at the moment. Lekishvili noted that part of the investment will be made by a German Turkish company while the remaining funds will be contributed by the Eurasian Development Bank.

In turn founder of Emigrant investment company Mr Zaza Sioridze said that “After the change of power in Georgia investors began to show increased interest in the country. He added that Israeli businessmen have already visited Georgia and European investors are also interested in the Georgian stainless steel sheet market.”

According to forecasts of the Georgian Finance Ministry, the country will receive the largest amount of investments this year exceeding the current record of USD 2 billion 2007.